BHP plans to produce 1,705-1,820kt (1.71-1.82mn mt) of copper, 242-253mn mt of iron ore, and 87kt of nickel in fiscal 2020.
The company’s copper production during H1 2020 increased 7pc to 885kt from 825kt during the same period in the prior fiscal. BHP’s iron ore production for H1 2020 incresed by 2pc to 121mn mt from 119mn mt produced during the first half of fiscal 2019. However, nickel production during the period fell 11pc to 35kt compared with 40kt produced in Hi 2019.
BHP’s average realized copper price was 2pc higher at $2.60/lb in H1 compared with $2.54/lb during the same period a year earlier. However, it was 4pc below the $2.70/lb achieved during the second half of 2019, and 1pc below the $2.62/lb attained during the full 2019 fiscal.
The company’s average realized price of iron ore during H1 2020 was 41pc higher at $78.30wmt, compared with $55.62wmt during the same period in the prior year. It was 1pc higher than the average realized price of $77.74wmt during H2 2019, and 17pc higher than the $66.68wmt during FY 2019.
BHP’s nickel prices averaged $15,715/t during H1 2020, 26pc higher than the $12,480/t during H1 2019 and 26pc higher than $12,444/t during the second half of the 2019 fiscal, and $12,462/t during FY 2019.
The company’s revenue in the first half of 2020 rose to $3.58bn compared with $3.39bn during the same period in the prior fiscal. During FY 2019, the company’s revenue totaled $6.88bn.
BHP reported an EBITDA of $1.83bn during H1 2020, which is higher than its H1 2019 and H2 2019 EBITDAs of $1.57bn and $1.81bn, respectively.